Go-Jek Clinches Foreign Capital from Google, JD.com, Tencent

TEMPO.CO, Jakarta - The country’s unicorn company Go-Jek has reportedly acquired foreign capital from Google, JD.com, and Tencent for Series F funding in early February 2019. The technology startup under PT Aplikasi Karya Anak Bangsa received investment worth US$1 billion or equal to Rp14 trillion, with an assumed exchange rate of Rp14,000 per US dollar. 

As reported by Go-Jek official website, the investment will be prioritized for developing Go-Jek in Indonesian market up to its features, such as food delivery service Go Food, digital payment service Go Pay, transportation services Go Bike and Go Car.

“The funds from this round will be used to cement Go-Jek’s leadership in the Indonesian market in transport, food delivery, logistics, mobile payments, and merchant services,” said Go-Jek management Monday. 

Read: Gojek Continues Discussions with Philippines

Go-Jek will also spend the capital to expand its network in Southeast Asia. “And drive continued expansion across other markets in Southeast Asia,” it added,  following its operations in Singapore, Vietnam, and Thailand. 

However, Go-Jek asserted that the Go-Jek founder would continue to maintain control over the decision-making and direction of the company for speedier business expansion.

Go-Jek CEO-cum-founder Nadiem Makarim, said in the press release that the capital investment was a form of investors' trust in the performance and social impact of Go-Jek. “This latest round of fundraising spells investors' confidence in the team’s abilities to execute our vision,” Nadiem said. 

TAUFIQ SIDDIQ